In a report released today, Michael Higgins from Ladenburg maintained a Buy rating on Ovid Therapeutics Inc (OVID), with a price target of $27. The company’s shares opened today at $2, close to its 52-week low of $1.72.
Higgins wrote:
“We believe NEPTUNE could enroll by 1H’20, supporting a 2H’21 launch. Also, the open- label extension trial ELARA for all OV101-treated AS patients should begin enrolling in 1Q’19. In FXS, OV101 started one interventional (ROCKET) and one observational (SKY- 3Q’18, which we expect to readout in 2H’19.”
According to TipRanks.com, Higgins has 0 stars on 0-5 star ranking scale with an average return of -7.7% and a 31.3% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Melinta Therapeutics Inc, Zynerba Pharmaceuticals, and Paratek Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ovid Therapeutics Inc with a $19 average price target, representing an 850.0% upside. In a report released today, Cowen & Co. also maintained a Buy rating on the stock.
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Based on Ovid Therapeutics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $12.9 million. In comparison, last year the company had a GAAP net loss of $10.96 million.
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Ovid Therapeutics, Inc. is a biopharmaceutical company, which focuses on developing impactful medicines for patients and families living with rare neurological disorders. The company was founded by Matthew During in April 2014 and is headquartered in New York, NY.
